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AbbVie proposes $46bn bid for Shire; fifth offer of $53.3bn accepted; deal terminated in response to new US tax code
27 Sep 2017
Executive Summary
On the heels of Pfizer Inc.’s failed takeover attempt of AstraZeneca PLC, AbbVie Inc. proposed to pay $46bn (£27bn) for Shire PLC, whose stockholders would receive $34.78 in cash and 0.7988 ordinary AbbVie shares for each share held (worth $78.07, a 58% discount). (AbbVie’s initial offer on May 5th valued each Shire share at $65.72 and its second bid on May 14th was $67.35.)
Deal Industry
- Pharmaceuticals
-
Pharmaceuticals
- Specialty Pharmaceuticals
Deal Status
- Withdrawn
Deal Type
-
Acquisition
- Full Acquisition
- Includes Contract
- Payment Includes Cash
- Payment Includes Stock
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AbbVie proposes $46bn bid for Shire; fifth offer of $53.3bn accepted; deal terminated in response to new US tax code
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